Friday, 28 July 2017

The FT reports that chancellor Philip Hammond has told business leaders he wants to negotiate a simple “off-the-shelf” (rather than bespoke) transition deal with Brussels to maintain current trading relations with Europe for at least two years after Brexit.

Hammond said he wants a “standstill” transition leaving companies with full access to the single market and customs union, followed by a further “implementation phase” while a new, UK-specific trade accord is put in place.

The tripping point for his cabinet colleagues is the fact that this would see Britain stripped of voting rights and influence in Brussels
but obliged to accept European Court rulings, free movement rules and
budget contributions.

Interestingly, whilst other cabinet ministers have let their views be known, Theresa May’s own views are a mystery to colleagues.

The question is, does Theresa May actually have any views or is she waiting to be told what they are?